MIAMI--U.S. households carried $1.33 trillion in credit card debt at the end of February, and WalletHub is projecting balances will climb by another $50 billion before year-end as borrowing costs remain stubbornly high.
Fresh Today
WASHINGTON— Mortgage applications decreased 0.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 3.
WASHINGTON--Noting that credit unions remain committed to offering their members competitive credit card rates and transparent terms, America’s Credit Unions is engaging the CFPB to ensure that the information collection process related to credit card terms is efficient, well-designed, and proportionate to the benefits it delivers, the trade association said.
SAN FRANCISCO— SoFi Technologies said it is pushing deeper into commercial banking and digital assets with the launch of SoFi Big Business Banking, a new platform that lets enterprise clients manage both fiat and crypto activity through its nationally chartered bank, marking another sign of how fintechs are trying to expand beyond consumer checking and into business deposits and payments.
NEW YORK— U.S. household finances continue to look relatively steady on the surface, but new PYMNTS analysis suggests the underlying picture is far more fragile, with many consumers maintaining stability through discipline rather than enjoying genuine financial breathing room.
WASHINGTON--U.S. consumer credit expanded at a modest 2.2% annual rate in February, with the Federal Reserve’s latest G.19 report showing a sharp slowdown in revolving credit growth to just 0.6% while nonrevolving credit rose at a 2.8% pace.
WASHINGTON--The Defense Credit Union Council has submitted a formal comment letter to the U.S. Department of the Treasury in response to its Request for Information on the U.S. National Strategy for Financial Literacy (TREAS-DO-2026-0001). In the letter, DCUC highlighted the key role credit unions play in delivering financial education to millions of Americans and urged stronger financial literacy efforts at every stage of life.
ALEXANDRIA, Va.— Federal banking regulators and the NCUA on Tuesday proposed a joint overhaul of anti-money laundering and countering the financing of terrorism program rules that would shift banks and credit unions more explicitly toward a risk-based compliance model, while clarifying that only significant or systemic failures—not minor implementation gaps—would trigger the most serious AML/CFT enforcement actions.
ALEXANDRIA, Va.--NCUA Tuesday announced the ninth round of proposed regulatory changes associated with the agency's Deregulation Project.
TAMPA--Velera is expanding its Buy Now, Pay Later (BNPL) offerings, giving credit unions two new ways to provide installment-payment options: Debit Flex Payments for debit card purchases and Apple Pay’s Pay with Installments for credit transactions, the CUSO announced.